What is the difference between the GDP (PPP) and GDP (Nominal) in the economy of a country? ?
I mean, when I am looking for the economic net worth of a country, in terms of billions or trillions, which one should I look at? These figures are always different! It makes me confuse. What is the difference between the two? Can someone explain it to me? Please, try to explain it to me in easy terminology because I am not an economy major! Thank you.
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